Silver price today April 19: Continue to decrease

Domestic silver price

Silver price today at Phu Quy Gold and Gemstone Group, Phu Quy silver price remained stable, listed at 1,247,000 VND/tael (buy) and 1,286,000 VND/tael (sell) in Hanoi .

In addition, according to a survey at other trading locations in Hanoi, domestic silver prices have decreased in both buying and selling directions, currently listed at VND 1,034,000/tael (buy) and VND 1,064,000/tael (sell).

In Ho Chi Minh City, silver prices also decreased, currently at 1,036,000 VND/tael (buy) and 1,070,000 VND/tael (sell).

World silver price

On the world market, the silver price listed on Goldprice.org is at 32.34 USD/ounce.

Silver has not kept pace with gold’s rally amid economic and financial uncertainty, but it will continue to perform well as strong industrial demand outweighs falling supply, according to Kitco.

Industrial demand for silver is expected to remain steady at around 677.4 million ounces this year, with electrical and electronics demand expected to grow slightly by 1% this year as demand from the auto industry, grid investment and consumer electronics outweighs a decline in solar energy, according to Metals Focus.

The report comes as silver prices have seen significant volatility in the market and have underperformed gold as concerns about the global economy mount. The gold-silver ratio is hovering near a five-year high above 100.

Silver has struggled in recent weeks as investors worry that industrial demand could be hit if the global economy falls into recession.

However, in an interview with Kitco News, Philip Newman - CEO at Metals Focus - said that although the market has experienced five consecutive years of supply shortages, silver supply and demand have not yet reached a state of equilibrium.

Source: https://baodaknong.vn/gia-bac-hom-nay-19-4-tiep-da-giam-gia-249896.html